The Central Bank of Oman announced a 0.5% year-on-year increase in the value of its foreign assets during May, reaching approximately OMR 7.41 billion (equivalent to $19.32 billion), compared to approximately OMR 7.372 billion ($19.22 billion) during the same month in 2024. This came in the monthly report issued by the Central Bank, which covered the latest monetary, banking, and financial developments in the Sultanate.
The report indicated that the Central Bank of Oman’s foreign assets were distributed among several items, with the value of investments in securities amounting to approximately OMR 3.6 billion ($9.38 billion), while deposits abroad amounted to approximately OMR 3.038 billion ($7.97 billion). Reserve assets with the International Monetary Fund amounted to approximately OMR 475.8 million ($1.24 billion), while the book value of gold bullion reserves amounted to approximately OMR 293.2 million ($764.5 million). The bank’s report also indicated a 6.87% increase in the volume of conventional lending provided by banks operating in the Sultanate of Oman during May 2025 compared to the same period last year, reaching approximately OMR 26.398 billion ($68.83 billion), compared to OMR 24.7 billion ($64.4 billion) in May 2024. This increase reflects the continued growth of credit activity in the Sultanate, in conjunction with economic expansion trends and ongoing development projects.
The data also showed an increase in the value of deposits in Omani banks to approximately OMR 25.24 billion ($65.8 billion) during May 2025, compared to OMR 23.67 billion ($61.7 billion) during the same month of the previous year. This reflects continued depositor confidence in the Omani banking sector and the stability of the financial sector. According to a report by the Central Bank of Oman, money supply grew by 6.93% year-on-year in May, indicating ample liquidity in the economy. This enhances the banking system’s ability to finance various economic and investment activities, particularly in light of the national strategy to achieve economic diversification.
It’s worth noting that the Central Bank of Oman recently decided to cut interest rates by 50 basis points as part of steps aimed at stimulating economic activity and supporting credit levels and growth, in line with the Omani government’s goals of enhancing financial stability and achieving sustainable growth rates in the coming years.
